CMRC vs NEWT: Correlation
How closely do Commerce.com, Inc. - Series 1 (CMRC) and NewtekOne, Inc. (NEWT) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMRC and NEWT?
Over the past 3 years, CMRC and NEWT moved with a correlation of 0.49, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.49 over 3. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 1030.1 %².
NEWT is one of the assets that tracks CMRC most closely: it ranks #3 out of the 16 assets we track against CMRC. Their recent paths diverged sharply: over the last 12 months NEWT outperformed by 55.7 percentage points (-49.8% for CMRC against +5.9% for NEWT).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CMRC vs NEWT: side by side
| CMRC (Commerce.com, Inc. - Series 1) | NEWT (NewtekOne, Inc.) | |
|---|---|---|
| 1-year return | -49.8% | +5.9% |
| 5-year return | -96.1% | -35.1% |
| Volatility (ann.) | 53.5% | 38.9% |
| Beta vs S&P 500 | 1.40 | 1.15 |
| Max drawdown (3Y) | -81.5% | -43.8% |
| Market cap | $0.2B | $0.4B |
| P/E (trailing) | – | 5.6 |
| Dividend yield | 0.00% | 6.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMRC | NEWT |
|---|---|---|
| 2022 | -75.3% | -33.2% |
| 2023 | +11.3% | -10.7% |
| 2024 | -37.1% | -1.6% |
| 2025 | -32.7% | -4.9% |
| 2026 | -42.5% | +11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMRC and NEWT good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CMRC and NEWT?
As of 2026-08-27, the correlation of weekly returns between CMRC and NEWT is 0.49 over 3 years, 0.46 over 1 year and 0.40 over 5 years.
Is NEWT a good diversifier for CMRC?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cmrc-vs-newt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cmrc-vs-newt/)
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Related comparisons
Hubs: CMRC correlations · NEWT correlations
